Tuesday, October 25, 2016

Indices closed down .30% to .50%.......

Indices closed down.

 S&P 500 @ 2143.16, low 2141.93, high 2151.44

 RSI @ 47.62

 CMF @ -0.010

 Internals were :

 Down volume led by 1.85 to 1 in NYSE & 1.74 to 1 in Nasdaq

 Declining stocks led by 1.53 to 1 in NYSE & 2.18 to 1 in Nasdaq

 Net new 52 wk highs were leading by 45 in NYSE & 2 in Nasdaq

 VIX UP 3.38% @ 13.46

 Oil @ $49.96

 Gold @ $1273.60

 AH ER....PNRA UP 5.62%, AAPL Down 2.77%
                CMG Down 1.95%

 AAPL & CMG both guided higher than consensus for next Q, but they were sold off in AH trading........

 AH Futures Down

 AH Asian Markets Down

 AH Oil Down

 AH Gold UP

 About market, TAPE was under pressure again from weak earnings and lower oil.Indices closed near low of the day, internals were mostly negative.Nasdaq still above 50 DMA, Dow & S&P 500 under 50 DMA. So far, this Q3 earning season is not robust, but it may all change AH on Thursday, GOOG & AMZN reports. 

 BLOG does NOT give buy or sell.

 Saleem
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7 comments:

  1. stocktrader_1996October 26, 2016 at 7:59 AM

    Hi Saleem,

    Added to LYB @ 79.87

    I like the prospects for chemicals here with oil stable. LYB specifically looks good technically, valuation-wise, and has the unique catalyst of a competitor with a plant problem for many months going forward.

    Stocktrader

    ReplyDelete
  2. Stocks100October 26, 2016 at 8:05 AM

    Hi Stocktrader,

    Good luck with more LYB.

    Saleem

    ReplyDelete
  3. stocktrader_1996October 26, 2016 at 9:04 AM

    Hi Saleem,

    Bought a half position in AKS @ 5.45

    I've been burned before, but these guys continue to execute so well. A two-notch upgrade from a prior bear might cause some legacy short-covering. They continue to transition away from the commoditized products which is helping both profitability and takeover potential.

    Stocktrader

    ReplyDelete
  4. stocktrader_1996October 26, 2016 at 9:21 AM

    Hi Saleem,

    Portfolio: TRIL, WLH QRVO LYB SPLK ACIA, ZYNE, DKS, AKS, CNAT, cash 10%

    I am debated heavily on entering AMZN. I think it still has a long way to go in growth terms, but I am uncertain on how the short term looks. Should that matter?!

    Stocktrader

    ReplyDelete
  5. Stocks100October 26, 2016 at 9:39 AM

    Hi Stocktrader,

    Good luck with AKS.

    AMZN continues to do well. Q4 should provide higher guidance.

    Saleem

    ReplyDelete
  6. stocktrader_1996October 26, 2016 at 10:10 AM

    Hi Saleem,

    I've been teasing myself with DAL since it was under $39. I keep resisting because I feel like everyone talks about how cheap they are and we must own them. I hate sentiment longs like that...

    I should have stepped in this morning at near $40. I almost did...

    Stocktrader

    ReplyDelete
  7. Stocks100October 26, 2016 at 10:41 AM

    Hi Stocktrader,

    @ some point every stock is a buy.

    Sometimes, it is hard to wait for bargain basement price.

    Saleem

    ReplyDelete